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Your Mortgage Guide
Quick savings tip. Make sure you find out if qualify into an agency loan with your lender. Agency loans are loans that are securitized by Fannie Mae, Freddie, FHA and in today's market will ensure you are receiving the most favorable pricing and best interest rates. The best way to ensure your receive the best mortgage program for your specific scenario is to compare offers from multiple banks and lenders. It is important if you are shopping for a new home loan that you contact lenders on the same day as the market can change and interest rates and loan programs can change daily. Once you have your goals identified you will be able to compare similar programs from competing lenders to compare the closing fees, interest rates, third party fees and loan program that best meets your goals. The lender that offers you the lowest initial interest rate may not be the best loan program for your specific situation so it always is beneficial to explore a few options.
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Mortgage Rates & Economic News
Developing news...Fed cuts fed funds rate down to 2%. The prime rate is now at 5%. Mortgage rates have initially dropped with the news and the ten year bond is again trending below 3.8%. The Fed is uncommitted to whther or not they will continue lowering rates as they balance the rising inflation brought on by oil prices and the economic slow down directly tied into the real estate industry.. If you are shopping for a fixed rate mortgage you should consider locking into rates near five year lows.
Learn about the FHA Secure loan and how this affects consumers with variable loans.
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Search For Lenders By State
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Compare mortgage rates from local and national lenders to save on your next home loan. We work with the nations top local and national lenders to offer you up to 4 free quotes for your specific loan scenario. Our network of lenders work with borrowers from all credit backgrounds and offer fixed rate loans, variable rate loans, jumbo loans and custom solutions based on your specific scenario. Thank you for visiting LowRateMortgage.com LowRateMortgage.com is not a bank, broker or direct lender and is strictly operating in an advertising capacity.
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